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06/23/2011 11:21 AM ID: 89850 Permalink   

Retirees Sue GM Over Insurance Benefit Loss

 

45 General Motors retirees sued Metropolitan Life Insurance Co. after their life insurance benefits were reduced.

In 2009 GM cut life insurance to $10,000, which retirees say is "extreme and outrageous" and not enough to cover even funeral and burial expenses.

GM, however, claims that "the right to modify or terminate employee benefits has always been an integral component of the plans themselves, as was frequently communicated to participants."

 
  Source: www.detnews.com  
    WebReporter: caramba Show Calling Card      
  Recommendation:  
ASSESS this news: BLOCK this news. Reason:
   
  11 Comments
  
  BUT!  
 
GM will be damned if the execs don´t get pay raises (for the same amount they loose when these people die) for doing a great job next year!
 
  by: nimira     06/23/2011 11:34 AM     
  oh man  
   
  by: syoware   06/23/2011 06:36 PM     
  Thanks for the Link, syoware  
 
C. Robert Henrikson Chairman of the Board of the Company and Metropolitan Metlife Inc.
Total Compensation $13,867,854.00

You know how much polo pony feed is today? How do they expect people to pay their bills.
 
  by: Jim8   06/23/2011 07:29 PM     
  ^^^^  
 
I think American big business is a sewer. They don´t give a damn about their employees, much less their retired folk. Corporate loyalty has always been a myth, however. They don´t feel they OWE you a dime for your 40 years of faithful service. I respectfully disagree. Back before they raped the poor and middle class and stole their money and gave it to their owners and top management, working for them was a decent thing to do. Now, the corporate scum can all go to hell (which IS their destination).
 
  by: Lurker     06/23/2011 07:42 PM     
  But Lurker!  
 
Didn´t you see the link about C. Robert Henrikson? What about all his years of dedicated service to Met? Doesn´t he deserve some honest and fair compensation?

As well as the CEO´s of GM and other such companies??

Oh wait.. that´s what you addressed at the end there...
 
  by: vlynxy   06/23/2011 08:57 PM     
  blame it on...  
 
Obama.

The Feds took the company and now the results are in...every thing they touch turns into a pile of brown stuff.
 
  by: Mr.Science   06/23/2011 11:21 PM     
  Hey, Mr. Science!  
 
A question I have about assigning blame for the government takeovers and bailouts:

http://detroit.about.com/...
The auto-industry bailout saga came to an end, at least temporarily, on December 19th, 2008, when President Bush announced a $13.4 billion bailout from TARP funds.

ALL of this happened BEFORE Obama was president. How come he deserves the blame?
 
  by: Jim8   06/24/2011 01:37 AM     
  Give me a break  
 
Mr. Science. I´ll bet he never took a science class in his life. He has never lived up to his nickname on any post he´s ever made on SN. LOL
 
  by: Lurker     06/24/2011 02:46 AM     
  @Mr. Science  
 
Hey, troll.

Apparently you weren´t familliar with the gigantic pile of "brown stuff" GM was before the nationalisation. They wouldn´t exist today if the government had not taken pity on it and its employees. In conclusion you´re full of shit and every one here knows it.
 
  by: H. W. Hutchins   06/24/2011 09:53 PM     
  Ever heard of...  
 
Corporate Average Fuel Efficiency (CAFE) standards?

These are rules for building cars and trucks set by people who have no idea how to build a car. They have no stake in the outcome of their edicts that is if the company loses money, its not their money, its not their job that is lost.

This group of clueless people reside in Congress. So, who really drove GM in to the ground? The Environmentalist Monkeys that run Congress that´s who.

Now put that in your pipe Hutch and smoke it.

[ edited by Mr.Science ]
 
  by: Mr.Science   06/24/2011 11:10 PM     
  @ Mr Science  
 
Is that all you have to put in your pipe?
There´s much better stuff than that available.

 
  by: white albino   06/27/2011 01:39 PM     
 
 
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